Press release
Cancer Biomarkers Market Revenue to Cross USD 40 billion by 2035 | Roots Analysis
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In recent years, significant advancements have been made in order to improve the existing cancer treatment options. However, clinical cancer research continues to face challenges, such as high therapy failure rates and treatment side effects. Additionally, variability in patient responses to treatments due to different genetic makeup has underscored the need for personalized approaches like oncology precision medicine. While single analyte biomarkers like PD-L1, BRAF, and EGFR have been crucial, they are often insufficient due to individual genomic variations. As a result, biotechnological progress has facilitated the identification of more robust biomarkers such as TMB, MSI/MMR, TILs, SNV, and CNV, which assists physicians in the development of personalized treatment and therapies based on patients' genotypes.
Cancer Biomarkers Market Segments
Based on the type of biomarkers, the market is segmented into Mesenchymal Epithelial Transition (MET) biomarkers, Human Epidermal Growth Factor Receptor 2 (HER2) biomarkers, Epidermal Growth Factor Receptor (EGFR) biomarkers, Programmed Death-Ligand 1 (PD-L1) biomarkers, Neurotrophic Tyrosine Receptor Kinase (NTRK) biomarkers, Anaplastic Lymphoma Kinase (ALK) biomarkers, novel biomarkers and other biomarkers.
1. The HER2 biomarkers will dominate the cancer biomarkers market, capturing over 20% of the overall share by 2035.
2. The cancer biomarkers market for HER2 biomarkers will grow at a higher CAGR of 4.8% during the forecast period.
Based on the type of cancer, the market is segmented into breast cancer, prostate cancer, colo cancer, lung cancer, thyroid cancer, bladder cancer, melanoma, non-hodgkin lymphoma, endometrial cancer, kidney cancer and leukemia.
1. Cancer biomarker tests used for breast cancer is likely to dominate the market, capturing 23% of the overall share by 2035.
2. The cancer biomarker tests used for melanoma are expected to grow at a higher CAGR of 4.73% during the forecast period.
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Cancer Biomarkers Market Regional Outlook
Based on the key geographical regions, the cancer biomarkers market can be segmented into four major regions, including North America, Europe, Asia-Pacific and Rest of the World. Led by the US, North America is anticipated to capture the majority share of the cancer biomarkers market in 2024 and this trend is likely to remain unchanged during the forecast period. Further, the market in North America is expected to grow at a relatively faster CAGR. The growth of the cancer biomarkers market in the region is driven by the high prevalence of cancer in the US and Canada.
Key Report Takeaways
1. Presently, close to 100 biomarker testing solutions are available in the market; majority of these solutions use next generation sequencing for the assessment of cancer biomarkers
2. Stakeholders in this industry are engaged in providing cancer biomarker testing solutions for a wide range of applications; more than 70% of these solutions assists in the evaluation of MSI / MMR
3. The current market landscape of cancer biomarker testing solution providers is fragmented, featuring the presence of both new entrants and established players; majority of these players are based in the US
4. Close to 685 clinical trials (with more than 75,000 enrolled patients) are currently ongoing in order to investigate novel cancer biomarkers, across different geographies
5. The field of cancer biomarkers has seen a significant rise in research, with over 470 articles published by various researchers, underscoring the growing focus of several industry players and academic players in this domain
6. Various big pharma players have marked their presence in this domain by either offering cancer biomarker testing solutions, filing patents or by conducting clinical trials, to tap the lucrative opportunity in this growing market
7. The cancer biomarkers market is anticipated to grow at a CAGR of 5%, till 2035; North America is expected to capture the majority share (over 45%) of the market by 2035
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Cancer Biomarkers Market Key Players
Examples of key companies engaged in the cancer biomarkers market (the complete list of companies is available in the full report) include Agilent, ARUP Laboratories, BioReference, Foundation Medicine, OncoDNA, Q2 Solutions, Thermo Fisher Scientific and YuceBio.
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
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